Over the past few years, the smartphone industry has undergone massive changes. From being an item of luxury, smartphones have now become a necessity, aiding us in almost everything that we do. When first introduced, smartphones offered very basic features. However, the smartphones being rolled out now are equipped to allow you to manage your entire personal and professional life on one single device. Beyond the functionality they offer, smartphones have become a status elevator in terms of spending abilities and style.
The concept of mobile insurance is rather recent and not many smartphone owners are aware of it, or willing to purchase it. Theft of smartphones has become a very common occurrence, making it all the more important for owners to insure their devices. For higher end smartphones, this protection is even more important as they are very lucrative targets for theft. In this article, you can get to know about the various benefits which mobile insurance offers, what do mobile insurance policies provide coverage for (in general), what are some of the exclusions of mobile insurance policies, some of the companies in India which offer mobile insurance to customers and how the claim process works in case of mobile insurance.
Benefits of Mobile Insurance:
Considering the heavy reliance that today’s generation has on their smartphones, mobile insurance can be your best friend. Listed below are just some of the benefits which mobile insurance provides, making it more of a requirement nowadays.
- You have recently purchased an expensive smartphone and you wish to safeguard it from theft or damage. A mobile insurance policy can help you in that regard.
- A mobile insurance policy is a smart purchase if you hold a history of having lost or broken your previous phones.
- Depending on the policy which you take, you can get a replacement for your stolen or damaged smartphone (same model) without having to downgrade to a lesser advanced model.
- You rely very heavily on your smartphone for your day to day activities and would need an immediate replacement, if anything were to happen to your current handset. Mobile insurance can take care of that.
Suitable for cell phone owner/users who can insure their mobile telephone instrument from loss and/or damages under this policy
The policy for mobile phones provides cover against
- Riot, strike, malicious damage and terrorist activities.
- Fortuitous circumstances.
Exclusions under the mobile phone insurance policy are
- Mysterious disappearance.
- Theft from unattended vehicles, except from fully enclosed car that is securely locked.
- Theft, loss or damage during the hire or loan to a third party.
- Mechanical and electronic breakdown or derangement.
- Overloading and experimentation involving imposition of any abnormal conditions.
- Damage by wear and tear, vermin, atmospheric or climatic condition or gradual deterioration, inherent defect or from any process of cleaning, repairing or maintenance.
- Loss or damage due to war or nuclear perils, loss by water or from any water borne craft.
- Intentional or willful act of the insured party.